Beware asset-based fees on your retirement assets By Michael J. Francis, Special to the Star Tribune January 16, 2021 — 8:00am Text size Copy shortlink: The keys to achieving a financially secure retirement are diligent saving, disciplined investing and controlling costs. If you accomplish all three, the chances of meeting your retirement savings goals are high. While saving and investing strategies get the most attention, strategies to control fees can also make a big impact. One strategy everyone should follow: eliminate as many asset-based fees on your retirement savings as possible. An asset-based fee is a perpetual fee that is charged as a percentage of your account value. Eliminating an asset-based fee of one-half of 1% will save more than $130,000 for a hypothetical investor who saves on average $8,000 a year over a 45-year career and is able to average a 7% rate of return.